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but last night congress sent president obama a deal on the fiscal cliff. after months of drama and some tense last-minute negotiations, congress finally passed legislation to avoid the fiscal cliff. after the vote, a rare late-night statement from president obama. >> under this law, more than 98% of americans and 97% of small businesses will not see their income taxes go up. >> reporter: lawmakers completely blew their deadline. they didn't get the grand bargain both parties claimed was their ultimate goal. both democrats and republicans gave themselves credit for getting something done. >> this is a very, very strong first step. >> this is an important one. this is a critical one for the future of the country. >> reporter: there was considerable hand ringing among republicans about a lack of spending cuts. some wanted to add them in, but ultimately there weren't enough votes to get it passed. this fiscal cliff deal, which passed the senate with overwhelming bipartisan support would extend tax cuts for all workers earning less than $400,000 a year, prevent
but last night congress sent president obama a deal on the fiscal cliff. after months of drama and some tense last-minute negotiations, congress finally passed legislation to avoid the fiscal cliff. after the vote, a rare late-night statement from president obama. >> under this law, more than 98% of americans and 97% of small businesses will not see their income taxes go up. >> reporter: lawmakers completely blew their deadline. they didn't get the grand bargain both parties claimed...
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everyone is cheering this tax deal that got done with the fiscal cliff. essentially what they did was establish three more fiscal cliffs to deal with. one over the sequester, which are the massive spending cuts. that's going to happen in the next two months. then the debt ceiling debate and then also a continuing budget resolution. so there are three more cliffs coming in 2013. it's going to be another year where congress will be wrapped up in fiscal matters. you wonder what else could or would or will get done this year. >> maybe they will be more productive, though. maybe they can get along. >> i love your optimism. so good luck. >> my new year's resolution is to be more optimistic. it's only day three, though. >> good luck, congress. >>> also overnight, we learned that president obama signed the fiscal cliff bill, which preserves tax cuts for most americans. the agreement passed by congress sent stocks surging with the dow jones up 300 points. the euphoria, though, ain't going to last long. big cuts with defense were not worked out, but were delayed fo
everyone is cheering this tax deal that got done with the fiscal cliff. essentially what they did was establish three more fiscal cliffs to deal with. one over the sequester, which are the massive spending cuts. that's going to happen in the next two months. then the debt ceiling debate and then also a continuing budget resolution. so there are three more cliffs coming in 2013. it's going to be another year where congress will be wrapped up in fiscal matters. you wonder what else could or would...
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Feb 22, 2013
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the phone call marked the first time they've talked on the issue since the fiscal cliff deal next year. the president says it never should have gotten to this point. >> there's no other profession, no other industry where people wait until the 11th hour to solve these big problems. >> but neither side is reporting any progress. instead, aides simply exchanged some taunts via twitter. not a lot of reason for hope here that they're going to get this done. but there's still a few days. >> like the president said, there's nowhere else in the world where you think about it, if it's going to affect that many people and so much money is on the line that we wait for this long for anything to happen. in fact, today our abc's jonathan karl spoke to secretary leon panetta about these cuts. he said if they go into effect, it would turn the united states into a second rate power. >> strong words there. president obama said at this point we continue to reach out to the republicans and say this is not going to be good for the economy or ordinary people, but i don't know if they're going to move and t
the phone call marked the first time they've talked on the issue since the fiscal cliff deal next year. the president says it never should have gotten to this point. >> there's no other profession, no other industry where people wait until the 11th hour to solve these big problems. >> but neither side is reporting any progress. instead, aides simply exchanged some taunts via twitter. not a lot of reason for hope here that they're going to get this done. but there's still a few days....
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taxes will go up for nearly every american in less than a month if there's no deal on that looming fiscal cliff. >> but even with that threat looming, lawmakers are still very far apart on their way to rein in government. there are differences on full display for all of us to see over the weekend. here's abc's tahman bradley. >> reporter: fiscal cliff talks have hit a stalemate. with only 29 days to go, republicans and democrats remain far apart. and over the weekend, there was worry negotiations may actually fail. >> i think we're going over the cliff. it's clear to me they made a political calculation. before president obama and his team are demanding that they allow bush era tax cuts for the wealthiest 2% of americans expire. >> there's no way we can govern this country with those low rates in place for future generations. those rates have to go up. >> reporter: but republicans have drawn a line in the sand in raising tax rates. instead, signaling they're open to raising revenue by limiting the tax code. it's a major sticking point. holding up a deal. >> right now, i'd say we're nowher
taxes will go up for nearly every american in less than a month if there's no deal on that looming fiscal cliff. >> but even with that threat looming, lawmakers are still very far apart on their way to rein in government. there are differences on full display for all of us to see over the weekend. here's abc's tahman bradley. >> reporter: fiscal cliff talks have hit a stalemate. with only 29 days to go, republicans and democrats remain far apart. and over the weekend, there was...
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more bluster from both sides of the fiscal cliff deal. but is there actually a deal in the making?
more bluster from both sides of the fiscal cliff deal. but is there actually a deal in the making?
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Nov 10, 2012
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with republicans to keep the federal government from veering off the so-called fiscal cliff. and we knew he would probably lay down some markers. >> i'm open to compromise. i'm open to new ideas. i'm committed to solving our fiscal challenges. but i refuse to accept any approach that isn't balanced. i'm not going to ask students and seniors and middle class families to pay down the entire deficit while people like me making over $250,000 aren't asked to pay a dime more in taxes. i'm not going to do that. >> but what we did not know about that moment is that the president was also thinking about finding a new director of the cia. after decorated four-star general david petraeus admitted an affair and resigned. abc's senior foreign affairs correspondent martha raddatz has the details. >> reporter: as cia director, david petraeus held all of the nation's secrets. but was keeping a big one of his own. today, in a statement to cia employees, the man considered a national hero by some acknowledged the affair and what he called his extremely poor judgment. "such behavior is unaccept
with republicans to keep the federal government from veering off the so-called fiscal cliff. and we knew he would probably lay down some markers. >> i'm open to compromise. i'm open to new ideas. i'm committed to solving our fiscal challenges. but i refuse to accept any approach that isn't balanced. i'm not going to ask students and seniors and middle class families to pay down the entire deficit while people like me making over $250,000 aren't asked to pay a dime more in taxes. i'm not...
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hoping to strike a last-minute deal to avoid the fiscal cliff. >>> plus, deep discounts. if you're not sick of the mall just yet, you're going to find some great sales today. why a loss for retailers could be your gain. >>> and the holiday homecoming. one family never imagined was possible. how a chance encounter by a caring stranger put a dog-napped
hoping to strike a last-minute deal to avoid the fiscal cliff. >>> plus, deep discounts. if you're not sick of the mall just yet, you're going to find some great sales today. why a loss for retailers could be your gain. >>> and the holiday homecoming. one family never imagined was possible. how a chance encounter by a caring stranger put a dog-napped
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Dec 31, 2012
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as washington teeters on the edge of the fiscal cliff, there is still no deal. as talks continued overnight, a voice of frustration erupted on the senate floor. >> something has gone terribly wrong when the biggest threat to our american economy is our american congress. >> reporter: the republican and democratic senate leaders negotiated all weekend long. the talks hit a brick wall. harry reid saying he was unable to even counter the latest republican offer. >> at this stage, we're not able to make a counteroffer. it appears that there are things that stop us from moving forward. >> reporter: that prompted mitch mcconnell to call for a lifeline. >> i also placed a call to the vice president to see if he could help jump-start the negotiations on his side. i want everyone to know i'm willing to get this done. but i need a dance partner. >> reporter: and with that, vice president biden has now emerged as a key player, playing a direct role in the effort to strike a last-minute deal. the key sticking points remain the same. the white house wants taxes to go up on t
as washington teeters on the edge of the fiscal cliff, there is still no deal. as talks continued overnight, a voice of frustration erupted on the senate floor. >> something has gone terribly wrong when the biggest threat to our american economy is our american congress. >> reporter: the republican and democratic senate leaders negotiated all weekend long. the talks hit a brick wall. harry reid saying he was unable to even counter the latest republican offer. >> at this stage,...
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. >> on the fiscal cliff, the tax like that will go into effect on january 1st, the president is saying i want to raise taxes on rich people. the republicans said, no go. do you see any pathway to a deal here? >> there's going have to be a pathway to a deal here. you'll have a big hit on january 1st, spending cuts and tax increases. right now, both sides -- there's some middle ground. is there a way to get new revenue out of the wealthy without raising their rates. >> george, thank you. must-watch show this morning. patty murray and saxby chambliss and his powerhouseround table. >>> ron claiborne with the other top stories. >>> good morning, empbl. >>> we begin with politics. they finally finished counting ballots in florida. the official winner in that state barack obama. president obama edged out mitt romney by 74,000 out of 8 million cast. the governor of florida will seek to see what it can do to improve the voting process in florida. power is finally coming back for thousands of people in new jersey still in the dark since superstorm sandy. people should have power restore today. p
. >> on the fiscal cliff, the tax like that will go into effect on january 1st, the president is saying i want to raise taxes on rich people. the republicans said, no go. do you see any pathway to a deal here? >> there's going have to be a pathway to a deal here. you'll have a big hit on january 1st, spending cuts and tax increases. right now, both sides -- there's some middle ground. is there a way to get new revenue out of the wealthy without raising their rates. >> george,...
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Dec 21, 2012
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to avoid that fiscal cliff at the end of the year. just last night, house speaker john boehner's so-called plan "b" to prevent tax increases failed in the house. >>> meantime, farmers are warning that milk prices could skyrocket to $6 or $8 a gallon. if congress fails to pass a new farm bill. >>> we have just learned that president obama will nominate john kerry as the next secretary of state to succeed hillary clinton. that official announcement is expected later this afternoon. and i think we should unlike this. it could soon cost you to send an e-mail on facebook. the company is testing out a new service that will charge $1 to guarantee that an e-mail you sent to a nonfriend gets into their inbox, reducing the chance of them mistaking it for spam. no. i hope you have a budget for that. >>> and finally, a special princess is celebrating a special birthday. disney's original princess, snow white. she looks great. she turned 75 today. she and the seven dwarfs was disney's first feature film, debuting on this day in 1937. walt disney c
to avoid that fiscal cliff at the end of the year. just last night, house speaker john boehner's so-called plan "b" to prevent tax increases failed in the house. >>> meantime, farmers are warning that milk prices could skyrocket to $6 or $8 a gallon. if congress fails to pass a new farm bill. >>> we have just learned that president obama will nominate john kerry as the next secretary of state to succeed hillary clinton. that official announcement is expected later...
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. >>> the latest on that fiscal cliff. everyone's taxes set to go up in just 27 days if congress and the white house can't strike a deal. and publicly, at least, president obama is taking a harder line with every day that goes by. abc's jake tapper is covering it all from the white house. and it's clear that president obama believes he has the upper hand here. >> reporter: he sure does, george. and later today, president obama will speak to corporate executives at the business roundtable. and he'll try to enlist their help in his negotiations with congressional republicans. and his latest demand, that congress remove its own power as it stands right now, to raise the debt ceiling. it is a bold gambit that congressional republicans are already calling a non-starter. paul ryan stepped back into the spotlight late tuesday, with a feisty shot at the president. >> i congratulate him on his victory. but on january 20th, he'll face a stagnant economy and a fiscal mess. you might even say he'll inherit these problems. >> reporter:
. >>> the latest on that fiscal cliff. everyone's taxes set to go up in just 27 days if congress and the white house can't strike a deal. and publicly, at least, president obama is taking a harder line with every day that goes by. abc's jake tapper is covering it all from the white house. and it's clear that president obama believes he has the upper hand here. >> reporter: he sure does, george. and later today, president obama will speak to corporate executives at the business...
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. >> on the fiscal cliff, the tax hikes that will go into effect on january 1 if congress and the president can't cut a deal, the president is saying, i want to raise taxes on rich people. the republicans have come out and said, no go. do you see any pathway to a deal here? >> there's going to have to be a pathway to a deal. because as you point out, you'll have a big hit on january 1st. at least $500 billion of spending cuts and tax increases but right now both sides are dug in. there does seem to be some middle ground. is there a way to get new revenues out of the wealthy without raising their rates? that's going to be the question they'll be focusing in on these next several weeks. >> george, thank you. as always, george has a must watch show. senators patty murray and saxby chambliss as he mentioned along with his powerhouse roundtable. >> now to ron claiborne with the other top stories. hey, ron. >> good morning, everyone. >>> we begin with politics. four days after the national election, they are finally finished counting ballots in florida, and the official winner in that state, bara
. >> on the fiscal cliff, the tax hikes that will go into effect on january 1 if congress and the president can't cut a deal, the president is saying, i want to raise taxes on rich people. the republicans have come out and said, no go. do you see any pathway to a deal here? >> there's going to have to be a pathway to a deal. because as you point out, you'll have a big hit on january 1st. at least $500 billion of spending cuts and tax increases but right now both sides are dug in....
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unless congress is able to reach a deal. >> the nation is edging closer to that fiscal cliff, as lawmakers spend more time on blame than action. >>> also, he's being called one of the great military giants of our time. this morning, general norman schwarzkopf is being remembered as a soldier and a patriot. >>> and a woman shoves a man in front of an oncoming train and then runs away. it's the second deadly subway shoving this month. and this morning, we're getting our first look at the woman police say did it. >>> and it was a gift meant for a stranger. but it built a community. the unexpected outcome of one
unless congress is able to reach a deal. >> the nation is edging closer to that fiscal cliff, as lawmakers spend more time on blame than action. >>> also, he's being called one of the great military giants of our time. this morning, general norman schwarzkopf is being remembered as a soldier and a patriot. >>> and a woman shoves a man in front of an oncoming train and then runs away. it's the second deadly subway shoving this month. and this morning, we're getting our...
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. >>> now, to the looming fiscal cliff. everyone's taxes go up on new year's day if no deal is reached. and diane sawyer got an exclusive look at where republicans stand from house speaker john boehner yesterday. abc's jon karl has more on that from washington. good morning, jon. >> reporter: good morning, george. the speaker of the house told diane he is confident he can strike a deal with the president. but he also took a hard line on the central issue dividing them, tax increases. >> i've made it clear to the president, and i think i said, laid out yesterday, that raising taxes on small businesspeople is the wrong prescription, given where our economy is. >> reporter: but raising taxes on the wealthy was a central issue of president obama's campaign. he talked about it in every, single campaign speech. >> the wealthiest americans got tax cuts. tax cuts. tax cuts. tax cuts. try a tax cut. another $5 trillion tax cut that favors the wealthy. that's not changed. >> reporter: in her exclusive interview thursday, diane sawyer
. >>> now, to the looming fiscal cliff. everyone's taxes go up on new year's day if no deal is reached. and diane sawyer got an exclusive look at where republicans stand from house speaker john boehner yesterday. abc's jon karl has more on that from washington. good morning, jon. >> reporter: good morning, george. the speaker of the house told diane he is confident he can strike a deal with the president. but he also took a hard line on the central issue dividing them, tax...
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Dec 10, 2012
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. >>> we turn now to the fiscal cliff. just 22 days before everyone's taxes go up, every government program is cut. there's a bit of hope that a deal to avoid the consequences could be coming, sparked by the first meeting in weeks between the president and john boehner. jake, what do we know about the meeting? >> reporter: they spoke on the phone on friday and set up a meeting for yesterday. speaker boehner did come here. and though i don't think there's any reason to believe we're really close to a deal, progress has been made, though one side of the talks staaid that that progress is fragile. >> we're getting close to the point, really, by tend of the week, if they're not a lot closer, it might be too hard to do by the end of the year. >> there could be a quick fix solution. republicans agree to keep the tax cuts in place for the 98% of the country. avoid tax cuts for a few month, go take winter break. that would not be a long-term solution but would avert the fiscal cliff. >> hillary clinton's future, talking about her
. >>> we turn now to the fiscal cliff. just 22 days before everyone's taxes go up, every government program is cut. there's a bit of hope that a deal to avoid the consequences could be coming, sparked by the first meeting in weeks between the president and john boehner. jake, what do we know about the meeting? >> reporter: they spoke on the phone on friday and set up a meeting for yesterday. speaker boehner did come here. and though i don't think there's any reason to believe...
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Dec 14, 2012
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more signs that they're no closer to a deal to the fiscal cliff. but at least yesterday, president obama and house speaker john boehner sat down and talked. house speaker john boehner paid a visit to the white house for a nearly hour-long meeting with president obama. it was their second face-to-face session in the past five days. the president was asked if he's feeling optimistic. >> it's a work in progress. >> reporter: very much in progress. right now there's even disagreement on what they're disagreeing about. is it tax rates for the wealthy? >> there are some clear, you know, red lines when it comes to how we build a broader deficit reduction package. >> reporter: or is it spending cuts? >> it's clear the president is not serious about cutting spending, but spending is the problem. >> reporter: in ten minutes, boehner hammered home that point nearly two dozen times and signaled there may be room for flexibility. >> if the president will show us he's willing to make the spending cuts needed, i think we can do some real good in the days ahead. >
more signs that they're no closer to a deal to the fiscal cliff. but at least yesterday, president obama and house speaker john boehner sat down and talked. house speaker john boehner paid a visit to the white house for a nearly hour-long meeting with president obama. it was their second face-to-face session in the past five days. the president was asked if he's feeling optimistic. >> it's a work in progress. >> reporter: very much in progress. right now there's even disagreement on...
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Nov 16, 2012
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president obama has his first face-to-face meeting with congressional leaders over the fiscal cliff hitting january 1st. everyone's taxes set to go up if they can't reach a deal to reduce the deficit. let's go to abc's jonathan karl for more on that. >> reporter: there's not much time left. as one senior white house official told me, this has to be a real start to this meeting. there's no time for photo ops or show meetings. i'm told the president is going to kick things off with a public statement, reiterating his firm position that tax rates on the wealthiest 2% must go up. he will not waiver on that, even as he wants to cut taxes or extend tax cuts for everybody else. that would appear to put him on a collision course with republicans who said raising tax rates on anybody is unacceptable. so, george, potential collision course. but i've got to tell you, both sides are saying they believe something can and must be worked out. >> but to be clear, working things out, the bottom line is wealthier are going to pay more one way or the other. >> reporter: that's absolutely the case. even republ
president obama has his first face-to-face meeting with congressional leaders over the fiscal cliff hitting january 1st. everyone's taxes set to go up if they can't reach a deal to reduce the deficit. let's go to abc's jonathan karl for more on that. >> reporter: there's not much time left. as one senior white house official told me, this has to be a real start to this meeting. there's no time for photo ops or show meetings. i'm told the president is going to kick things off with a public...
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Dec 27, 2012
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cliff. >> unless the president obama and congress can reach a deal by the new year, tax increases and spending cuts will automatically take effect. >> and the clock is ticking. >>> of course, when we look back at this year, president obama's re-election was one of the biggest political stories of the year. all others, you could say, they pealed in comparison. >> with the first of our year-enders, here's abc's karen travers. >> reporter: to win a second term, president obama had to overcome a well funded opponent, a struggling economy, and voters' doubts that he had the right agenda to turn the nation around. [ chanting ] >> all: four more years! >> reporter: and after a roller coaster season, he got them. mitt romney may have started off at the frontrunner, but to win the republican nomination, he had to fend off some feisty challengers. >> he's the worst republican in the country to put up against barack obama. >> the odds are very high i'm going to be the nominee. >> reporter: and overcome some self-inflicted wounds. >> i like being able to fire people who provide services to me. >>
cliff. >> unless the president obama and congress can reach a deal by the new year, tax increases and spending cuts will automatically take effect. >> and the clock is ticking. >>> of course, when we look back at this year, president obama's re-election was one of the biggest political stories of the year. all others, you could say, they pealed in comparison. >> with the first of our year-enders, here's abc's karen travers. >> reporter: to win a second term,...
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that looming fiscal cliff must be dealt with now. lawmakers have been putting off work on a budget deal for months wanting to get past the elections. well, that time is now here, and congress can't procrastinate anymore. house speaker john boehner sat down with abc's diane sawyer for an exclusive interview. >> the president and i had a very good conversation yesterday. i am confident that he and i can find the common ground necessary. >> with the so-called fiscal cliff looming at the ended of the year, leaders from both parties say they're willing to work together. >> compromise is not a dirty word. i'm willing to negotiate anytime, any issue. >> if congress fails to act on a budget deal by the end of the year, automatic spending cuts and tax increases kick in, costing average american households $$3,700. speaker boehner signaled a willingness to include higher taxes, under the right conditions. >> what matters is where the increased revenue comes from and what type of reform comes with it. >> but he said -- >> raising taxes on small
that looming fiscal cliff must be dealt with now. lawmakers have been putting off work on a budget deal for months wanting to get past the elections. well, that time is now here, and congress can't procrastinate anymore. house speaker john boehner sat down with abc's diane sawyer for an exclusive interview. >> the president and i had a very good conversation yesterday. i am confident that he and i can find the common ground necessary. >> with the so-called fiscal cliff looming at...
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cliff now stands at five weeks. if congress doesn't act, $650 billion in spending cuts and tax increases automatically go into effect on january 1. there are now increasing signs that republicans may be willing to deal on the most controversial issue -- taxes. but for many republicans, doing just that would mean breaking a pledge to not raise taxes. and taking the political risks that come with it. the "no new taxes" pledge is the brainchild of grover norquist, president of americans for tax reform. >> what the pledge does, of course, allows elected officials to make it clear openly to the american voters where they stand. >> reporter: norquist may not be a household name outside the belt kwai, but here in washington he carries significant weight as evidenced by the hundreds of republican lawmakers who have signed his pledge over the years. even as top republicans signal they are willing to compromise there is still a catch. the white house indicated everything is part of the discussion. >> all three legs of this wi
cliff now stands at five weeks. if congress doesn't act, $650 billion in spending cuts and tax increases automatically go into effect on january 1. there are now increasing signs that republicans may be willing to deal on the most controversial issue -- taxes. but for many republicans, doing just that would mean breaking a pledge to not raise taxes. and taking the political risks that come with it. the "no new taxes" pledge is the brainchild of grover norquist, president of americans...
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at new year's to avoid the fiscal cliff. but that just set up another deadline. if congress doesn't act by march 1st, $85 billion in spending cuts go into effect all at once. in addition to the pentagon cuts, it would mean tsa agents are furloughed. expect longer lines at airport security. 1,000 fbi and other law enforcement agents forced off the job. 70,000 preschoolers dropped from their head start program. >> it was never meant to become implemented policy. >> reporter: 80% of the pentagon's civilian workforce is based outside of the washington, d.c. area. virginia and california are the states that would be most affected by the furloughs. rob and diana, back to you. >> our thanks to karen. >> you can see from that piece just how widespread these cuts are. but we've seen this drama play out before. we're going to get to the 11th hour, they're going to come up with a deal that prevents all of it, but kicks it all to june 1st. then memorial day weekend, we'll have another deadline crunch. it's the same thing over and over a
at new year's to avoid the fiscal cliff. but that just set up another deadline. if congress doesn't act by march 1st, $85 billion in spending cuts go into effect all at once. in addition to the pentagon cuts, it would mean tsa agents are furloughed. expect longer lines at airport security. 1,000 fbi and other law enforcement agents forced off the job. 70,000 preschoolers dropped from their head start program. >> it was never meant to become implemented policy. >> reporter: 80% of...
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but some economists estimate that because of the uncertainty posed by the fiscal cliff, at least 200,000 fewer jobs have been created this year. the official deadline is december 31st at midnight when the ball drops in times square. the deadline is before that, a week from friday when the house of representatives is scheduled to go on vacation. in actuality there are fewer than 11 days before they need to work out a deal. jake tapper, abc new, the white house. >> that's scary, 11 days. fellows you sit up there until it gets wrapped up. quick synopsis, gop, $800 billion in revenue through tax reform on the table. that's not what the white house wants. they want tax rates to go up as oppose to revenue going up which would include closing some loopholes. kind of one of the sticking points. >> and speaker of the house john boehner sent a nice little hallmark card, a letter to the president. i want to read you an excerpt. he set the american people rightly expect both parties to come together on a fair middle ground and address the nation's most pressing challenges. the proposal calls for $1.
but some economists estimate that because of the uncertainty posed by the fiscal cliff, at least 200,000 fewer jobs have been created this year. the official deadline is december 31st at midnight when the ball drops in times square. the deadline is before that, a week from friday when the house of representatives is scheduled to go on vacation. in actuality there are fewer than 11 days before they need to work out a deal. jake tapper, abc new, the white house. >> that's scary, 11 days....